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Parliament passes Law No. 298 to approve a World Bank loan to fund wheat imports
Parliament approved a $150 million World Bank loan to fund wheat imports for six to nine months. The approval came amid doubts from different MPs, including Kanaan, who questioned the authority granted to the Economy Ministry’s General Directorate of Cereals and Sugar Beets to open a line of credit for wheat imports, which he said is the responsibility of the Finance Ministry. Kanaan also questioned the authority of the directorate to distribute the wheat. Other MPs said that the loan will be disbursed mostly to “foreigners,” likely referring to refugees residing in Lebanon. Caretaker Economy Minister Amin Salam said during the session that, under the agreement with the World Bank, the wheat subsidies will be set at LL8,000 instead of LL1,500 to the dollar, which would hike the price per bread bundle from LL15,000 to LL27,000.
قانون رقم 298
اتفاقية قرض مقدم من البنك الدولي بقيمة 150 مليون دولار أميركي لتنفيذ مشروع الاستجابة الطارئة لتأمين إمدادات القمح